CHF stablecoin sandbox enters test phase and adds SIX and TWINT as new partners

Zurich, 8 September 2026 – UBS, PostFinance, Sygnum, Raiffeisen, Zürcher Kantonalbank, BCV, SIX, TWINT and Swiss Stablecoin AG are testing selected use cases for a CHF stablecoin in a secure digital live environment – a so-called sandbox.

The tests are based on the Swiss franc stablecoin CHFD, which has been technically live in the sandbox since the end of June. CHFD is a stablecoin designed to maintain a 1:1 peg to the Swiss franc (1 CHFD = 1 CHF). The sandbox use cases are tested on the CHF stablecoin platform operated by CHFD Infrastruktur AG, a subsidiary of Swiss Stablecoin AG.

The CHF stablecoin sandbox is being used to test several potential stablecoin applications under realistic conditions. In addition to established international use cases, such as automated transactions between financial institutions and tokenized settlement of digital assets, the partners are focusing on innovative applications in the area of programmable payments. For example, the initiative is examining whether and how programmability can help reduce fraud risks on online marketplaces, support fair access to event tickets, and make public payments more efficient. Through these activities, the participating partners are laying important groundwork for future developments in digital payments.

The test phase is designed with an open outcome and is expected to continue until the end of 2026. The primary objective is to gain insights into where a CHF stablecoin could create added value, what challenges exist, and which technical, operational and regulatory requirements would need to be met for potential future development. Upon completion of the initiative, an overview of the findings will be provided.